Razon-led ICTSI wants to invest P5B for upgrade of 2 Iloilo ports

International Container Terminal Services Inc. (ICTSI), a multinational container port operator, is interested to “develop” two ports in Iloilo.

In its letter of intent to the Philippine Ports Authority (PPA), ICTSI proposed to invest P5 billion for the modernization of the Iloilo Port Complex and the Port of Dumangas.

“We truly believe in the growth potential of the Visayas in general and of Iloilo in particular. That growth is anchored on the building of infrastructure and the delivery of basic utilities and services,” said Enrique Razon Jr., ICTSI chairman and president.

“With the development of port superstructure and the cost-efficient delivery of electric services, we hope to be able to help Iloilo in attaining its full potential,” he added.

The listed port operator is also keen on taking over the “operation and maintainance” of the two ports.

Razon said they wanted to “bring to the Iloilo ports its know-how in managing ports honed from its 30 years of experience across the 30 ports that it operates worldwide.”

An “integral part” of the investment includes the dredging and deepening of the Iloilo Port Complex, and the channel to allow the direct entry of new generation, international vessels.

New port equipment to be brought in during the first phase was estimated to cost P1.35 billion, including modern quayside crane handling equipment.

ICTSI likewise offered to “substantially invest in the development of the Port of Dumangas to seamlessly handle the spillover from the city port.”

According to Christian R. Gonzalez, ICTSI global corporate head, the ports’ development “will not only improve efficiency but will, more importantly, evolve the ports into becoming the Philippines’ Visayas hub that will improve connectivity for cargo movement within the country.”

“Our vision is to ultimately turn these two ports into international gateways,” he stressed.

ICTSI “is in the business of acquiring, developing, managing and operating container ports and terminals worldwide.” It currently operates in 18 countries, namely the Philippines, Indonesia, China, Pakistan, Australia, Papua New Guinea, Mexico, Honduras, Colombia, Ecuador, Brazil, Argentina, Poland, Croatia, Georgia, Iraq, Madagascar, and the Democratic Republic of Congo.

SOURCE: Iloilo Metropolitan Times

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